China Real Estate Information Corporation (CRIC) jumped by 20% on its first day of trading on the Nasdaq.
CRIC is a subsidiary of E-House (EJ) and has the most complete, comprehensive data bank on Chinese real estate in the world. All the big developers, analysts, and Wall Street types are eager to pay for what CRIC knows.
I haven’t jumped on CRIC yet. I’m skeptical that its data business can continue to grow at its current pace. There are only so many more people willing to pay big bucks for the information. Of course, that doesn’t mean that CRIC can’t keep going higher for a while.
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